Saudi Arabia's Tourism Authority Gets New Chief as Mega-Project Funding Wanes

Ageel Alshaibani has been appointed CEO of Saudi Arabia's Tourism Authority, succeeding Fahd Hamidaddin. He inherits the target of attracting 150 million annual visitors while the Public Investment Fund scales back spending on flagship tourism projects. Alshaibani previously served as deputy minister of tourism and brings experience from McKinsey and the MBS Foundation.

Alshaibani steps into the role at a moment when the kingdom's tourism ambitions face financial headwinds. The Public Investment Fund has been trimming expenditures on signature developments, including Neom and Red Sea projects, even as the government maintains its stated goal of 150 million yearly visitors. His background includes time at McKinsey and the MBS Foundation, along with board seats across several tourism and entertainment entities.

The leadership transition follows Hamidaddin's departure in May after seven years at the helm. Alshaibani's prior work as deputy minister involved shaping the National Tourism Strategy, giving him familiarity with the policy framework he now oversees. The PIF's reported pivot toward artificial intelligence investments adds another layer of complexity to funding questions surrounding the giga-projects.